Georgia Code
Article 1 - General Provisions
§ 33-41-8. Amount of Capital or Surplus

The Commissioner may require additional capital or surplus of any captive insurance company in an amount he or she deems appropriate under the circumstances based on the captive insurance company’s business plan as described in Code Section 33-41-10. Additional capital or surplus may be required if the captive insurance company’s business plan indicates that an increase is required in order for the captive insurance company to meet its contractual obligations to its policyholders or to maintain its solvency.
History. Code 1981, § 33-41-8 , enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2015, p. 377, § 1-4/HB 552; Ga. L. 2016, p. 825, § 1/SB 347; Ga. L. 2019, p. 533, § 2-6/HB 99.
The 2019 amendment, effective July 1, 2019, deleted “and” at the end of paragraph (a)(4); substituted “; and” for the period at the end of paragraph (a)(5); added paragraph (a)(6); deleted “paragraph (2) of subsection (a) of” following “described in” near the end of the first sentence of the ending undesignated paragraph of subsection (a); substituted “One or more letters of credit, so long as they are in conformance with” for “Promissory notes or other obligations of shareholders secured by one or more letters of credit, as described in” in paragraph (b)(4); in subsection (c), substituted “Each” for “One hundred thousand dollars of the minimum capital or surplus of an” at the beginning, deleted “an” preceding “industrial” in the middle, and substituted “and risk retention group captive insurance company must deposit” for “or a risk retention group captive insurance company must be deposited” near the end.

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